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🇺🇸🇨🇳 President Trump says "we are leading China in crypto."

President Trump's claim that the U.S. is leading China in crypto comes amid his family's venture with the memecoin $TRUMP, which has raised ethical concerns as profits flow directly to the Trumps, according to The New York Times report on May 13, 2025.

A small company with ties in China and in financial difficulties announced a purchase of $300 million in $TRUMP and Bitcoin, which could inflate the value of the memecoin, despite its lack of utility beyond speculation, highlighting the speculative frenzy surrounding Trump's crypto projects.

The trade war between the U.S. and China, which is intensifying according to a Reuters report on May 14, 2025, has indirectly impacted crypto markets, with some experts suggesting it could decentralize Bitcoin mining, although China still dominates, controlling a significant portion of the global hash rate according to CCN's analysis from April 2025.